Tuesday, January 19, 2010

Lee Enterprises squeaks out profit as ad slide slows

In a sign the newspaper industry may be bottoming, shares of Lee Enterprises Inc. soared Tuesday after the newspaper publisher reported a first-quarter profit compared with a year-ago loss. Lee earned $27.9 million, or 62 cents per diluted share, a swing from a loss of $48.6 million last year.

Stock of the Davenport, Iowa-based company rose 44 cents a share to close at $4.49, up 11 percent.

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